Ripple Market News: XRP/USD drops below $0.2000 after a failure at $0.2030

XRP/USD tested the intraday high at $0.2031, but the strong resistance located around this area discouraged the short-term bulls and pushed XRP/USD below $0.2000 by press time. The third-largest digital asset has returned inside the recent range as the further upside may be limited by the above-mentioned resistance zone.  

XRP/USD: Technical picture 

On the 1-hour chart, XRP/USD has come close to the local support created by SMA50 at $0.1980. This area may slow down the correction and allow for another attempt above $0.2000. However, the RSI stays reversed to the downside, which means the bearish momentum may be strong enough to clear the support and push the price towards $0.1960 that served as resistance on Thursday. Now it is reinforced by 1-hour SMA200.

XRP/USD 1-hour chart

Ripple launches a cloud-based payment platform

The San-Francisco-based fintech startup has developed a cloud payment solution that will enable existing and new customers to connect to Ripple’s network and use Ripple’s payment messaging system, and XRP remittance platform. The integration will be fast and easy as the companies won’t have to buy additional hardware equipment and spend time on its installation and configuration.

From the official announcement:

Using Cloud, customers can go live on RippleNet five weeks faster than on-prem customers and avoid hardware requisition or staffing to get started—speeding up payments for the end consumer. RippleNet Cloud also makes it easy for financial institutions to add alternative settlement through On-Demand Liquidity. Cloud customers can also maintain and make new connections more easily, through one API for all of their RippleNet connections.

XRP/USD: Technical picture